I try to write down what I am seeing and thinking when I see a possible trade set-up. It is not so complicated and the thought process takes very little time compared to the time it takes to write it down. You may think that it is mumbo jumbo, but I ...

Trading Gold with PA

M15 chart again The candle before B, although a bullish bar, had a relatively long lower shadow and was unable to break the high of the previous candle. This shows that the Bulls' resolve is weakening. the Bears are probing and this bullish ...

Trading Gold with PA

% free margin has no relevance. How much willing to lose? That is down to the individual's risk appetite and management.

How to calculate risk in Pips (Excel)

You don't need a particular % Your free margin should always be equal or more than the possible loss on all your open trades ie. if you have $500 free margin, but have trade open that would lose $1000 if it hit SL once that trade goes into loss by ...

How to calculate risk in Pips (Excel)

So on to M15 chart. The 1,2 and 3 are the same as on the previously posted hourly chart. Reversals don't always happen at nice solid S/R levels. Following a strong downmove, there going to be retracements and if you always wait for retracements to ...

Trading Gold with PA

Finally Gold has broken away from that pesky 1600 level. Maybe we will see more decent set-ups now? On the H1 chart.. On 2nd April, price broke above a range. This proved to be a failed break-out. Often a failed break-out results with a much more ...

Trading Gold with PA

Ahh, I think that maybe you are talking about the time between price thrusts on the chart? Usually that will mean that the market is more volatile when the time gap is small and that can also mean that the market is more erratic. Larger time gaps ...

What do these Price Action Gaps mean?

I'm confused. The arrows on your charts are not pointing at any gaps ???

What do these Price Action Gaps mean?

Risky to trade with no stoploss Position size for the 5 trades that you had open at the same time on Friday could have put a high % of your account at risk especially as you held 4 of them over the weekend. Remember that opening gap on JPY pairs a ...

Is demo a step before real trading?

Usually when traders talk about higher highs etc, they are referring to swing highs and lows HH and HL indicate a bullish trend LH and LL indicate a bearish trend As you can see on the chart the uptrend had some nice clear swings The boxes are ...

What are Higher High, Higher Low, Lower High and Lower Low?

New day has started with a strong bullish push but hit resistance at candle 3. Price has dropped, maybe partly because of bulls taking profits and maybe gaining bearish confidence. The main thing is that price is above that pesky 1600 level and if ...

Trading Gold with PA

Following on from my previous post.... There was a reasonable signal to go long off of the double bottom at candle 1, but it was a fairly short lived bullish push. One of the problems with trading from the lower tf in Gold is that often a move on ...

Trading Gold with PA

Looking at the M15 chart at the start of the new week Price opened with a small gap up, a very big range for M15 but closed as a slightly bullish, but mainly indecisive candle Bears took price down to below the open, 1 bullish bar and then it seemed ...

Trading Gold with PA

I see that you have now edited and changed your chart and put different weekly levels (still not from the previous week though) This was the chart that you posted originally. image

Price Action in Day Trading by Dadas

I know that there may be some differences between brokers charts, but your monthly OHLC levels are quite a bit different to those on my chart. The weekly lines that you have put on your chart are definitely not from the previous week. The previous ...

Price Action in Day Trading by Dadas

Happy to help if/when I can

How to calculate risk in Pips (Excel)

There is no way of knowing for sure how many successful traders started with a demo account. But it is almost certain that many newbie traders, eager to earn their first million, bypassed the demo stage and suffered badly. Trading a live account ...

For a newbie, how to start with a Demo acct and MT4?

May as well explain how to do it in 2 columns in C1 enter =INT(((B1-A1)*24)) in D1 enter =(B1-A1)*1440-(C1*60) Format the C and D columns as numbers with 0 decimal places andd you will have the hours in C1 and the minutes in D1 Hope this helps

How to calculate risk in Pips (Excel)

As far as I know the hh format of cells will not be accurate for periods exceeding 24 hours. Eg 28 hours would show as 4 You could simply enter into C1 =B1-A1 you will need to format the C column by right clicking on the C column and selecting ...

How to calculate risk in Pips (Excel)

Not sure if this will work out for you or not, I believe that it will return the correct rounded number for most, if not all pairs. Try it and see. Paste this into cell I3 and fill down =ABS(ROUND(IF(F3<10,(G3-F3)*10000,(G3-F3)*100),0))

How to calculate risk in Pips (Excel)